Decrease in REO and Short Sale Listing Inventory

Decrease in REO and Short Sale Listing Inventory

The Portland / Vancouver area is experiencing a drastic reduction in the amount of distressed properties and REO hitting the market, leading to a shortage of inventory for homebuyers.

Recent statistics from the RMLS show that approximately 80% of all sales were regular homeowners with equity. This is very good news for sellers... not so good for buyers! Multiple offers on newly listed and competitively priced properties are becoming all to common, and prices are inching up.

Experts predict there will be a slight increase in the amount of bank owned and short sale homes in 2013, but not enough to reverse the trend of the shrinking housing inventory. What this means for buyers - if you are on the fence, you should probably make a move while interest rates are low.


Julie Baldino - Owner-Managing Broker Headshot
Author:
Phone: 360-910-3586
Dated: April 20th 2013
Views: 1,134
About Julie Baldino: Julie Baldino is a seasoned veteran of the Pacific Northwest real estate industry, and has consisten...

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